How many times have you looked at a wholesale catalog or website and could NOT find one thing to buy?
Every product we research doesn’t seem to have any (or very little) potential for profit.
Don’t we all look at products with the “easy button” in our head? Find products (cheap) and sell for a profit.
Many of us have learned to think about selling products in packs (multi-packs) of 2 or more. This helps bump up the percieved value and thus the potential to make a profit.
This can work for some products – I’d buy 3 cans of coffee in a “pack” if I percieved the value over buying a qty of 3 on a single item page.
Get Creative ~ It’s Worth The Effort
I’ve heard from so many about their inability for creative thinking, it made me think about changing my wording to something less intimidating.
Maybe I should refer to the idea of matching up products to sell – as just that. Instead of the anxiety that I’m trying to get you do something you don’t feel comfortable with… I’ll just refer to it as “matching up related products” or M.U.R.P.
Why do I believe that M.U.R.P. is worth the effort? I have several reasons:
- The effort is done ONCE for each product… the ability to sell this profitable product over and over… Endless.
- I never face repricing (or falling prices)… because I don’t have any competition
- These products ALWAYS stay profitable. Without competition, the price always stays in profitable territory.
- Amazon will NEVER be my competitor on this product.
Well…. What The Heck Is a M.U.R.P. ?
You probably already guessed that I am talking about “Bundles” – Bundling Complimentary Products Together.
I’m passionate about creating bundles, and have been for about 3 years. They are becoming the core of my Amazon Product Sourcing Strategy.
The biggest stumbling blocks I see happening when others are creating (that word create rears it’s ugly head again) bundles:
- They think they have to be super creative.
- They think it will take so much time it’s not worth the effort.
- They want an “easy button” .
Okay… number 3 isn’t something I can help you get over. I haven’t found the “easy button” very often.
Grab The Catalog You Threw In The Round File
Go ahead, I’ll wait for you to find the last catalog you threw in the trash because it didn’t have anything worth your time to source.
Now… go and look for a few low cost products. Just pick a few to get started.
Research them again on Amazon – with a new eye towards what customers might purchase to go with this product. Keep the word “Complimentary” in your head.
M.U.R.P. - Match Up Related Products
If you have been selling on Amazon for a while, you know how it works… you buy “stuff” to sell on Amazon and the price tanks.
Buying products to resell for profit can be a mystery… especially if you are new to the game (and… it often does feel like a game to me).
My favorite game is Bundling Products to sell on Amazon.
My Latest Trip Down Research Lane
I found a product on Amazon that looks like it’s selling very well. This product is a neat little tool with TWO flaws.
- Amazon is selling it.
- The price is ridiculously low.
I also see (on the Amazon page) that this product is usually purchased with 2 other little tools – all three are made by the same manufacture.
Each one of these tools – sells on Amazon for between $6 and $7. Add up all three – and the cost to the customer is $20.16.
My cost to purchase each one of these tools is about $3.25 (including shipping). Total of $9.75.
I can test this M.U.R.P. using several different methods:
- I can sell them as a set for $19.99 (giving the customer value) = about $2 profit.
- I can sell them as a set for $21.16 (same price as sold separately) = about $4 profit.
- I can sell them as the same set for $24 (convenience) = about $8 profit. I can always lower the price if they stagnate or competition comes in.
- I can add something that makes this M.U.R.P. impossible to duplicate or (with a little less work), nearly impossible to duplicate. Price it between $24 and $27 with a $8 to $11 profit.
Where Is MY Easy Button?
Ordering these tools is super simple – one case of these, one case of those and add on one case of those other thingys.
Shipped to my door step. (Okay so I do have to drag the box in the house and open it)
Grab the clear bags with suffocation warning already printed on them… and drop one of each into the bag
List. Label. Ship.
NOTE – I do have to take the time to create the catalog page on Amazon – ONCE.
Give this idea some thought. See if you can come up with one or two product ideas (M.U.R.P.’s) to test.
Have a great week and “Happy (M.U.R.P.) Sourcing”,